Credit Bureau registers financial misconduct and, as well as a general credit assessment, which expresses credit protection by means of a score, notifies financial institutions before granting the loan. Pensioners receive a statutory pension not only for reasons of age, but also because of a reduced earning capacity or as a widow. In addition, early retirement is possible in many cases if discounts are accepted.
Direct borrowing from Cream Banks for pensioners
The conditions of the Cream Banks make it difficult to apply directly for a small loan without Credit Bureau for pensioners. Since, with a few exceptions, they require a maximum age well below the normal age limit for borrowing, retirees are usually not considered as direct customers. Early retirees, on the other hand, face the difficulty that Swiss financial institutions often only accept payments from the statutory pension and not the additional benefits of a private pension insurance as income relevant for borrowing.
A guarantor is often a successful way of obtaining the desired small loan for a pensioner without Credit Bureau. This must reach the minimum income required by the Swiss bank. Obtaining several offers from the pensioner before submitting the loan application is essential so that the customer can get a low interest rate. The decisive factor for the credit costs are the loan amount, the effective annual interest rate and the term.
A credit broker helps
In contrast to the application made directly to the financial institution, approval for a small loan without Credit Bureau is more likely for pensioners if it is submitted via a recognized credit intermediary. It works with the few Cream Banks whose lending guidelines are less stringent than those of most federal financial institutions. The usual maximum credit limit of 3500 USD does not necessarily apply when applying for a loan through a credit broker.
It should only be noted that this does not charge any upfront costs. The services of a credit brokerage are to be adequately rewarded, but this only applies in the event of success and therefore when the loan is actually paid out. The seriousness of a credit broker can be easily recognized by the fact that the broker does not require any upfront costs for the brokering of the Credit Bureau-free small loan.
Alternatives to a bank loan
In addition to banks, private individuals can also be considered as lenders. If these can be found among relatives or among friends, they usually give the small loan without Credit Bureau for pensioners even without calculating interest. Organized lending between private individuals makes a Credit Bureau request when registering as a borrower for the first time and often when lending again after a long break.
If the pensioner has already been registered and has taken out and repaid loans regularly in recent years, there is a good chance that the internal creditworthiness will be evaluated instead of another Credit Bureau request when a new loan is taken out.
Although this variant is not a loan without Credit Bureau for pensioners in the full sense, since the borrowing must be reported to the credit protection, most senior citizens are concerned with the request for a Credit Bureau-free loan. Low pension recipients also receive a small loan without Credit Bureau for pensioners through the office if they have to raise the money for urgently needed purchases.